Peninsula fixes marine biofuel deal for K Line in Hong Kong

Photo: Peninsula

Peninsula, a global independent supplier of marine energy, announced Aug. 15 that it has fixed its first marine biofuel deal for Kawasaki Kisen Kaisha (K Line), one of the largest Japanese marine transportation companies.

Peninsula’s bunker-trading team arranged the delivery of 700 tons of B24 marine biofuel to the K Line oceangoing bulk carrier M/V Cape Amal through a local physical supplier, Chimbusco Pan Nation.

The biofuel portion of the fuel blend consisted of 24 percent methyl ester made from used cooking oil.

The successful operation took place Aug. 11 in Hong Kong.

With biofuels demand expected to grow exponentially due to increased regulation, Peninsula said its extensive commercial network is ideally placed to support customers taking supply of lower-carbon products by bringing together supply and demand of new fuels.

“Through its unique combination of physical delivery and reselling of alternative fuels, Peninsula will drive decarbonization solutions to assist its customers in meeting—and exceeding—their regulatory commitments,” the company stated.

Continuing its investment in providing lower-carbon solutions, Peninsula’s commitment to reducing emissions in shipping goes beyond biofuels.

It will be taking delivery of its newly built liquefied natural gas (LNG) bunker vessel Levante LNG, which will add physical capacity in the Mediterranean to its already active reselling business in this product.

“Our focus is on key ports, where there is sufficient demand for alternative products such as biofuels and LNG or bioLNG,” said Nacho de Miguel, Peninsula’s head of alternative fuels and sustainability. “We have seen increased activity in the western Mediterranean and Amsterdam-Rotterdam-Antwerp regions as well as an increase in very promising prospects through our network in Asia. The K Line deal would not have been possible without their trust and the solid relationships held through our regional offices, and I would like to thank everyone involved in this deal.”

Victor Morales, Peninsula’s chief commercial officer, added, “I would like to thank K Line for placing their trust in Peninsula. Being able to build these relationships with other reputable, blue-chip companies will allow us to support the shipping industry’s decarbonization journey. We look forward to continuing our activity globally, and to build on our reputation as the most reliable company in bunkering. Our vision is to be able to provide our customers with fueling solutions across the different product categories as they are adopted by the industry.”